$SGX-AWX, AEM (SGX) - Record Quarter for both Revenue and Net Profit, beat FY 2021 guidance last updated in November. AEM is trading at an undemanding valuation of sub 10x Forward PE

Previous record revenoue for AEM was Q32020 where they hit SGD161.8m; Previous record net profit for AEM was Q12020 where they hit SGD36.1m...

In Q42021, AEM hit SGD227m revenue and SGD39.1m net profit (+68% QoQ, +61% YoY, +8% prev record high)

On FY basis, AEM beat topline guidance (again...) by SGD15m. Company guided for SGD720m for FY2022 (+27%). The strong topline was due to the company delivering previously mentioned volume ramp up for their new generation System Level Testing handlers, Burn-In Test handlers and peripheral tools, and the consolidation of CEI Limited.

AEM also has SGD216m in cash / SGD 135m in net cash (10% of market cap), of which utilisation of cash in bank and from operation had been used for 1) dividend (paying 5c this quarter), 2) share buybacks 3) acquisitions 4) R&D (4% of revenue)

AEM is a prime beneficiary of Intel's massive expansion; is close to securing new important & significant clients from their new platforms and is currently trading at undemanding valuation of 10x forward PE, whilst its peers in developed markets and neighboring Malaysia are trading at much much higher valuations.

It's not everyday you can find a growing company within the semiconductor supply chain trading at this valuations. Stay invested and accumulate upon weakness.

cc: @wsoh @ValinV @zhengyou0705 @mengteck @Jinnsern @FIRLGuys @khaijiunnlim @asheryap @JXWK0116 @zhexiangxd @Jay888